Money borrowed by an individual from a bank, NBFC or any digital lender without any collateral or security is known as a personal loan. The individual will pay this money back to the lender in installments over three to five years. Installment consists of principal and interest. The lender will charge interest from the borrower so the installments will be inclusive of interest. The current prevailing interest rate in India is between 10.75% – 35%.
Individuals who have urgent need of money to meet the temporary financial obligation such as paying one-time school admission fees for the kids, weddings, medical emergencies can apply for a personal loan.
this is one of the topmost reasons why people take a personal loan. Maybe in past, they have taken a loan from an individual to meet out any unforeseen urgent financial situation on a very high interest rate or they have some credit card outstanding and paying high interest on it. As the interest rate is lower, a personal loan can be a smart way to consolidate your debt with better interest rates. You can use this to pay off any debt with a high-interest rate. We call it a good and profitable financial decision. If you are in any such situation we can help. Click Here!!
It is the dream of every parent to provide the best education to their kids. This journey starts with securing the admission of your kid in the best school. At the time of admission, schools charge a significant amount of one-time fee called school admission fee if you are running short of funds you can use a personal loan to pay the one-time admission fees for the kid.Click Here!!
Recently started business face difficulty in getting a business loan, if you are sure you can create more interest than what you will pay than there is no harm on taking a personal loan and meeting the business requirement. If you are in any such situation we can help.Click Here!!
You can renovate and do some improvement in your house before selling to get a good price from the buyer. It will definitely fetch you more money. You can even construct an additional room and rent it out, you will create a source of regular income. You can use a personal loan for these purposes.Click Here!!
Marriage is a lifetime event and it comes with financial expenditure, you can use a personal loan to finance those expenses and make your marriage a lifetime memory.Click Here!!
Although we suggest everyone to have medical insurance to meet medical expenses however if you don’t have one then you can use a personal loan to meet out the medical expenses arise due to any medical condition.Click Here!!
Different financial lenders have different criteria’s or conditions, however, to help you below are the minimum and common requirements for receiving a personal loan: –
|The minimum requirement for applying for a personal loan: – Salaried and Self employed|
|Loan amount||Up to 4000000/-|
|Work experience: –
|Minimum one-year employment with the current organization
Income Tax Return of consecutive last 3 years
|Credit Score||750 and above|
|List of documents for Salaried||List of documents for Self-Employed|
|Identity Proof||Passport / Driving License / Voters ID / PAN Card / Aadhar Card (anyone) + 2 Passport Size photographs.||Identity Proof||Passport / Driving License / Voters ID / PAN Card / Aadhar Card (any one) + 2 Passport Size photographs.|
|Residence Proof||Lease Agreement / Utility Bill (not more than 3 months old) / Passport (anyone).||Residence Proof||Lease Agreement / Utility Bill (not more than 3 months old) / Passport (anyone).|
|Income Statement||Latest 3 months Bank Statement (where salary/income is credited).
Salary slips for last 3 months.
|Income Statement||Audited financials for the last two years.
Latest 6 months Bank statement.
Office address proof / Office ownership proof
Proof of continuity of business.
Consider us as your “Sathi” partner in your financial wellbeing.
The maximum amount of personal loan you are eligible for depends on your income and credit score. Roughly a customer whose credit score is 750 and above can get up to 20 times of his monthly income. Click here to check your personal loan eligibility.
How to avail a personal loan at the lowest interest rate and how to get the instant loan approval? Many people have this question in their mind. Let’s understand what makes a financial lender or loan provider gives a personal loan at a low interest rate and give immediate approval.
How to improve credit or cibil score?
|List of nationalized banks in India|
|ALLAHABAD BANK||IDBI BANK LTD.|
|ANDHRA BANK||IND BANK HOUSING LTD.|
|BANK OF BARODA||INDBANK MERCHANT BANKING SERVICES LTD.|
|BANK OF INDIA||INDIAN BANK|
|BANK OF MAHARASHTRA||INDIAN OVERSEAS BANK|
|CANARA BANK||JAMMU & KASHMIR BANK LTD|
|CENTRAL BANK OF INDIA||ORIENTAL BANK OF COMMERCE|
|CORPORATION BANK||PNB GILTS LTD.|
|PUNJAB & SIND BANK||UCO BANK|
|PUNJAB NATIONAL BANK||UNION BANK OF INDIA|
|SYNDICATE BANK||UNITED BANK OF INDIA|
|STATE BANK OF INDIA|
All these banks are in the business of providing personal loans, you can avail a personal loan from any public sector bank.
|List of Private banks in India|
|City Union Bank||Axis Bank|
|Dhanlaxmi Bank||ICICI Bank|
|Federal Bank||HDFC Bank|
|Karur Vysya Bank||Bandhan Bank|
|Lakshmi Vilas BankA||Yes Bank|
|Nainital Bank||RBL Bank|
|South Indian Bank||Kotak Mahindra Bank|
|Tamilnadu Mercantile Bank||DCB Bank|
All the private sector banks listed above are providing personal loans, you can avail a personal loan from these private banks.
|Personal Loan in Rajasthan||Personal Loan in Pali||Personal Loan in Ahmedabad||Personal Loan in Indore|
|Personal Loan in Jaipur||Personal Loan in Bhilwara||Personal Loan in Chennai||Personal Loan in Thane|
|Personal Loan in Udaipur||Personal Loan in Sikar||Personal Loan in Kolkata||Personal Loan in Bhopal|
|Personal Loan in Jodhpur||Personal Loan in Banswara||Personal Loan in Surat||Personal Loan in Visakhapatnam|
|Personal Loan in Ajmer||Personal Loan in Mumbai||Personal Loan in Pune||Personal Loan in Patna|
|Personal Loan in Kota||Personal Loan in Delhi||Personal Loan in Lucknow||Personal Loan in Vadodara|
|Personal Loan in Bikaner||Personal Loan in Bangalore||Personal Loan in Kanpur||Personal Loan in Ghaziabad|
|Personal Loan in Alwar||Personal Loan in Hyderabad||Personal Loan in Nagpur||Personal Loan in Ludhiana|
|Personal Loan in Agra||Personal Loan in Nashik||Personal Loan in Faridabad||Personal Loan in Rajkot|